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  #161  
Old Posted Feb 28, 2016, 11:39 PM
citywatch citywatch is offline
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I'm guessing onni would have torn down that small SRO bldg between their two apt towers some time ago if it weren't for a city ordinance that bans the removal of low cost housing in dtla. unfortunate since bldgs like that have long given a very bleak, sad....or desperate....feeling to the hood.

I can't figure our why certain forumers become so resentful when assumptions are made about market trends in dtla. one of the ppl interviewed by the planningreport.com....presumably an expert in investment....is expressing some of the hesitancy about an over supply of new housing in the hood that mimics a bit of what dtladenizen has said. So be it. however, I do hope the other forumer, resident, is correct when he states that the hellens proj on broadway has not been cancelled. But whether correct or not, so be it.

someone private messaged me the other day about a post I made recently. that person was indignant about a comment of mine. I said this thread should not be treated like a social forum, where postings & the personalities behind them are seen as more important than the photos, the updates, the interesting rumors, insider info or news or merely descriptions of what dt was like on a certain day, at a certain time.

Forget the personalities, forget the generic chatter as though the dtla compilations page is a cocktail party or the gathering of various cliques in a high school. That's all piffle & a silly distraction....& is uninteresting compared with the pics, the updates, or the type of news from ppl like blackcat.


Quote:
ULI-LA’s Emerging Trends in Real Estate 2016: Historic Urban Transformation of LA’s Downtown

To explore the transformation of Downtown LA and continuing caution of lenders, TPR presents excerpts from ULI-LA’ s Emerging Trends in Real Estate 2016. The panel features David Sonnenblick, principal at Sonnenblick-Eichner Company, David Binswanger, executive vice president at Lincoln Property Company; Wayne Brandt, managing director at Wells Fargo Bank; Marcia Diaz, managing director at Prudential; and Mary Ann King, president and managing partner at Moran & Company.

David Binswanger: I was having a conversation with some people in the real estate business, and we think that Downtown has the greatest potential for urban transformation of any large city in the United States. We believe that because of psychology.

15 years ago, Staples Center was built in the middle of nowhere, on the south end of Downtown, away from all the activity on Bunker Hill. That mattered because, for the first time since probably ‘91 or ‘92, an executive or a business decision-maker living in Brentwood, the Palisades, or La Cañada had a reason to come downtown. That person would come down, watch a Laker game, jump in the car, and drive away as fast as possible.

Today, that same person comes downtown, they now go to a Clipper game instead, they go to their favorite restaurant, and go to a bar after. Then they jump into an Uber and go back home.

What happens tomorrow? All those same things, except that when they’re walking around, it dawns on them: My customers and my employees are all down here.

The wall that surrounded Downtown for 25 years has been broken down. There was this bubble that wouldn’t let anything out, and it wouldn’t let anything else from the rest of Los Angeles in.

How did that happen? $25 billion of investment in the last 15 years in Downtown. There are rooms downtown that could be housing, that could be condos, and that could be hotel rooms. There’s transportation. There’s entertainment and retail.

Let’s talk about transportation. $3.2 billion invested in Downtown. The Regional Connector and the Expo Line are right around the corner. Bigger game-changers than that? Uber. People are in a fragmented urban center today, with different neighborhoods: Chinatown, Arts District, Financial Core, Bank. Even if you lived in Downtown five years ago, you still needed a car. That’s not very urban. Today, you don’t. You push Uber and you can connect to all these different locations.

Next, let’s talk about retail. Olden-days retail was big box—Nordstrom’s, junior anchor—Best Buy, inline space, maybe a grocery store. At best, an outdoor mall in California. No longer. Today, retailers want to be authentic. They want to be exploratory. Millennials, in particular, want to create connectivity. Where do they connect? They connect at food: coffee, brunches, and dinners.

The best chefs in LA are coming downtown to open restaurants. They’re occupying the ground floors of what had been previously vacant—retail, beneath office, beneath residential. That’s creating the fabric and neighborhoods. It’s a much bigger game-changer, in my opinion, than the national firms that are now coming in—maybe with the exception of Whole Foods.

Let’s talk about hotels. 45 million people visited LA last year. 23 million, which is an all-time record, stayed overnight one night. Where was the biggest foreign travel destination to LA? China, at number one two years in a row, and predicted to be for a third year. Where are they coming? Mostly to our urban center. It’s familiar to them. There are big brands and names selling residential in China and helping promote Downtown Los Angeles. Coupled that with the Convention Center revitalization: 2,500 hotel rooms under construction and 2,500 more in the pipeline. That’ll move the Convention Center business from number 14 in the country easily into the top 10 and benefit directly hotel, residential, retail, with other ancillary benefits.

David Sonnenblick: Touch upon the change in office tenants, and the type of spaces that cater to these tenants. For those that decided to take a space downtown, what was the attractiveness?

David Binswanger: There are a lot of different product types downtown. Office is the lagger, statistically. I don’t think it’s the truth yet that tenants in preferred locations like Hollywood, Beverly Hills, Culver City, Santa Monica or Playa Vista would make a choice to be Downtown if they had available product at a relatively affordable rate in one of those other markets.

But like my psychological example, the walls have been broken down. It’s not so dissimilar from Hollywood: 10 years ago all the residential went in, now the retail’s built up, and now Hollywood’s probably the hottest market in LA. We’ve done 2 million square feet of net absorption in the last year—all new development. It’s been leased before it’s been finished. That’s what I predict for Downtown. As residents retailers, and entertainment comes in office will be the last to benefit.

But there’s clearly already been a trickle. Gensler’s move was prophetic. They were very quick to come down here and see the advantage in the space. It’s an amazing selling tool for their business. I think more and more architecture firms have woken up and said, “I need to be a part of that.”

Downtown now has the most cutting-edge tenants. The tenants that moved out of Santa Monica into Culver City during the last run-up are now being pressed out of Culver City, and they’re coming, kicking tires, usually in the most interesting product—Rising’s building, the Ford Factory building, The Desmond. They’re not yet looking at Gas Company Tower. But they probably will over time.

David Sonnenblick: Mary Ann, tell us why people want to be downtown in this urban core, and the type of people that we’re seeing living here.

Mary Ann King: All of us living or working in this city in this decade are going to remember this as a Golden Age in terms of our development. In 1999, Staples had been delivered, LA Live was on its way, there was a train system bringing people to Downtown LA, and there was an adaptive-reuse ordinance that allowed people to convert some of these old box buildings. There were 11,000 residential units in Downtown LA then, and 72 percent of those were affordable—deeply affordable, many of them. If somebody told you that they lived in Downtown LA, a logical assumption would be that they were on some sort of public aid or getting housing assistance.

Fast-forward to 2015, and there are 35,000 residential units in Downtown LA, and about 35 percent of those are affordable. Our profile has become much more market-rate. There are 10,000 units under construction, so in the next two and a half years, that number’s going to go up to 45,000, and that affordability profile is going to be at about 27 percent. Also, according to the BID, just under 60 percent of people that are living downtown also work in Downtown LA.

Marcia Diaz: Now reality strikes, after Mary Ann and David get you all excited about the transformation of Los Angeles!

In 2004, 2005 and 2006, we started seeing some new apartments being built—the Medici, for example. But it looked to us that the renters were USC and Fashion Institute students. Was this really, truly a new growth of residential living downtown? We just didn’t feel it at that time, so we weren’t very aggressive on Downtown residential. Again, still no retail. There was no grocery store yet.

Today, there’s definitely, in my mind, a major transformation. This is a viable new beginning of a 24-hour city. I don’t think we’re going to go back to the old days where nobody lives down here and there’s no retail. I see it as a viable investment market.

David Sonnenblick: How does Downtown LA stack up on Pru’s list compared to other major gateway cities, whether it be New York or San Francisco or Chicago?

Marcia Diaz: We are doing construction perm loans in other markets. We’ve done numerous deals in San Francisco and Seattle. We’ve done some in Boston. We looked at a deal here in Los Angeles, and I could not get myself comfortable with all of the product coming online. The lease-up was going to be coming online about the same time that all this other new property was coming online. So in that sense, less aggressive.

For a property that’s up, occupied, and leased—even if it’s new, but if at least it’s leased—we could be as aggressive as some other markets with the right borrower, because you’ve already taken that lease-up risk out.

Quote:

apparelnews.com

First the BNKR store was going to open last summer. Then it was to be at the end of last year. Then it was to be at the beginning of this year. Now the latest news is that the Australian-brand store opens its doors at the corner of Ninth Street and Broadway in downtown Los Angeles sometime in April, said Kendall Sargeant, the pr person for parent company Australian Fashion Labels.

Since the beginning of this year, black paper has shrouded the tall windows of the store, located a few doors up from the Ace Hotel and across the street from Acne Studios. The company is already advertising job opening at the downtown outpost.

BNKR, whose parent company is Australian Fashion Labels, was started in 2007 in Adelaide, Australia, by Dean and Melanie Flintoft. The retailer is best known for its fast fashions that are trendy contemporary labels sold at fairly reasonable prices. It has only one other store outside of the United States. That is in Adelaide. Australia.

^ I'm worried that some of these stores are entering dt.....certainly broadway....with too much optimism about the amt of business they can attract. I hope they do well, but things still look too iffy in sections of dtla where not enough serious shoppers are out & about.


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  #162  
Old Posted Feb 29, 2016, 12:15 AM
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Hey LA peeps: suspended three forumers for personal attacks over the last week. Illithid Dude, thank you for stepping in while I was away in NY on business.

I've been a bit too lax in letting people off with warnings in the past. That period is over. The next person who attacks someone personally in this thread will be suspended for 7 days. The next time they do it, they will be permanently banned.
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  #163  
Old Posted Feb 29, 2016, 12:33 AM
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Wow! Wilshire Grand Skyscraper Topping Out in March in Downtown LA


Photo by Brigham Yen


Come tour the Wilshire Grand as it approaches topping out its roof:

http://brighamyen.com/2016/02/28/wow...n-downtown-la/
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  #164  
Old Posted Feb 29, 2016, 12:40 AM
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Quote:
Originally Posted by babypie View Post
glad to see we have developers like the Canadians building classy 50 story towers. my life is now complete. but that horrible thing to the right of it, can't they get rid of it?

BLAST the mother!
That's kinda sad to hear someone say. That small structure is 105 years old and while I wouldn't mind losing it for something better, I'd hate to see it go for no reason.

A good mix of old and new is what gives cities depth and texture, I honestly would hate having downtown full of 820 Olives. I also don't think you're going to find many on here who agree with if you want every old building with character demolished.
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  #165  
Old Posted Feb 29, 2016, 1:05 AM
Kenchiku desu Kenchiku desu is offline
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The old building isn't hurting anything and adds to the fabric of the place. I agree, without those junkers interspersed, we would have sterility.

801 S. Olive curtainwall is a bit too dark -- but elegantly detailed -- as would be expected from the firm that designed it, SCB. Nice job!
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  #166  
Old Posted Feb 29, 2016, 2:09 AM
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Quote:
Originally Posted by Kenchiku desu View Post
The old building isn't hurting anything and adds to the fabric of the place. I agree, without those junkers interspersed, we would have sterility.
edit: thought you were talking about the Stillwell. still agree tho!

Last edited by Eightball; Feb 29, 2016 at 4:41 AM.
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  #167  
Old Posted Feb 29, 2016, 2:17 AM
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Posting to subscribe to this new thread
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  #168  
Old Posted Feb 29, 2016, 3:00 AM
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On the topic of the 801 Olive facade, I'd go as far as to say that it's the nicest we've ever seen on a residential tower in DTLA.

On the topic of the three story between the two Onni towers, I'm glad they're keeping it. I love those little old brick buildings. There's a lot of them in South Park and I hope many of them stay. It's the warehouses that I hate and want gone.
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  #169  
Old Posted Feb 29, 2016, 3:38 AM
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Quote:
Originally Posted by King Kill 'em View Post
On the topic of the 801 Olive facade, I'd go as far as to say that it's the nicest we've ever seen on a residential tower in DTLA.

On the topic of the three story between the two Onni towers, I'm glad they're keeping it. I love those little old brick buildings. There's a lot of them in South Park and I hope many of them stay. It's the warehouses that I hate and want gone.
Absolutely. The South Park Hotel will be a great asset one day, breaking up the 2 big podiums of 888 & 820 S Olive. Its too bad the same couldn't be said for the absolute disaster Eighth & Grand is from a pedestrians point of view.

The most concerning issue near 9th & Olive is the sea of parking lots that still exist:
801 S Olive by Hunter, on Flickr
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  #170  
Old Posted Feb 29, 2016, 4:19 AM
King Kill 'em King Kill 'em is offline
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Originally Posted by ConstructDTLA View Post
The most concerning issue near 9th & Olive is the sea of parking lots that still exist:
801 S Olive by Hunter, on Flickr
I'd like to see a starchitect design a really creative tower on one of those lots. Either Bjarke Ingels or Zaha Hadid.
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  #171  
Old Posted Feb 29, 2016, 4:50 AM
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That's kinda sad to hear someone say. That small structure is 105 years old and while I wouldn't mind losing it for something better, I'd hate to see it go for no reason.

A good mix of old and new is what gives cities depth and texture, I honestly would hate having downtown full of 820 Olives. I also don't think you're going to find many on here who agree with if you want every old building with character demolished.
not every old structure but we don't need to hang on to all of them. They're eyesores and bring down DTLA. Whether or not anyone here agrees with me is regrettable but I get the feeling that visitors in general do not enjoy the experience of seeing such and like myself would prefer to see it blasted to rubble

The Easter Columbia building as well, I would love to see it go.

LA was destined for greatness. we can and should do better
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  #172  
Old Posted Feb 29, 2016, 4:54 AM
babypie babypie is offline
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Originally Posted by King Kill 'em View Post
I'd like to see a starchitect design a really creative tower on one of those lots. Either Bjarke Ingels or Zaha Hadid.
I'm fine with the parking lots. where else are we going to park?

It's the corridors of Hill, Broadway, and Spring that bother me

You can add Main also

More parks please, less concrete walls, grime, murals, and depression
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  #173  
Old Posted Feb 29, 2016, 5:04 AM
King Kill 'em King Kill 'em is offline
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Quote:
Originally Posted by babypie View Post
I'm fine with the parking lots. where else are we going to park?
Underground

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  #174  
Old Posted Feb 29, 2016, 5:19 AM
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The Easter Columbia building as well, I would love to see it go.
This is so far fetched I am only left to assume this is trolling.

If not, I'm sorry, but this is just like, the worst idea ever.
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  #175  
Old Posted Feb 29, 2016, 5:20 AM
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Quote:
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Nice thanks. They always seem to have it covered.

And here I thought I read every article already.
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  #176  
Old Posted Feb 29, 2016, 6:04 AM
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a9l8e7n a9l8e7n is offline
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Sunday 2/18

The Level


8th and Olive



820 Olive site


Wilshire Grand


Metropolis





Oceanwide plaza


11th and Grand

Last edited by a9l8e7n; Feb 29, 2016 at 9:38 PM.
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  #177  
Old Posted Feb 29, 2016, 2:47 PM
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Obvious troll is obvious. Step up your game
please don't take it too hard. It's not like we're talking the Chrysler bldg

Eastern Columbia is no Chrysler bldg

You won't get any hint of me saying DTLA development is stagnating

In fact, I feel very strongly that DTLA is very much on the rise

Just look how much foreign investment is pouring in
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  #178  
Old Posted Feb 29, 2016, 2:53 PM
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Well, that didn't take very long. Two more forumers suspended. Keep it on topic, and if you have a disagreement, address the argument. Don't attack the user. Notice I said address the argument, not attack the argument. If you can't be cordial and respectful of each other - even when you think someone else's point of view is outlandish or idiotic - you don't need to be posting on this thread.

End of story.
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  #179  
Old Posted Feb 29, 2016, 3:51 PM
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Boutique Hotel to open in City West in 2017

Five stories, 27 guest rooms, designed by Aaron Neubert Architects.

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  #180  
Old Posted Feb 29, 2016, 4:07 PM
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Boutique Hotel to open in City West in 2017

Five stories, 27 guest rooms, designed by Aaron Neubert Architects.
The first time I ever heard of Jerry's Motel was on the Tripadvisor forum. I've always been amazed at the good reviews its receives despite not being close to much of anything.
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